Gambling junket operator reshuffles portfolio

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Sun International Resources Ltd says is buying loss-making financial services businesses half-owned by the holder of about 47.14 per cent of its stock, Macau junket operator Alvin Chau Cheok Wa. Sun International Resources told the Hong Kong Stock Exchange that it was paying HK$147.3 million (about US$18.89 million) for the securities and asset management businesses of Sun International Financial Group Ltd, of which Mr Chau owns half. The other half is owned by Yeung So Mui, the spouse of Sun International Resources chairman Cheng Ting Kong who, like Mr Chau, owns about 47.14 per cent of Sun International Resources. Sun International Resources is in businesses related to gaming.